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Posts by "mo"
130 Posts Total by "mo":
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Posts by Anonymous "mo":
GBP/USD is 250 pip up from yesterday lows , is that opportunity to enter short target 1.5940 or there is more room for the up side?
Qin I still think there is more room for farther dollar rally against all the majors in the next couple of weeks.
USD/CAD is heading towards 1.18 and it might over shoot too 1.20 level.
So I defiantly will not advice you to short the USD/CAD now , my end of year forecast of the USD/CAD are about 1.12-1.13, but before that I think we are heading toward 1.18.
This is my opinion
good luck
Thank you for highlighting the wedge but I still think the Cable is heading toward 1.61-1.58 in the next few days/weeks because the fundamental outlook for the British Pound remains somewhat bearish, and next week GDP is expected to at -4.1% . Also the correlation between the GBP to the equity market, which I think they are due for big correction.
Combined with technical bearish signal such as.
1-RS1 is declining in the 4 hours and daily chart
2- MACD has crossed over in the daily chart
3- also the price action from 1.35 to 1.66 in very short period makes any farther rally Unsustainable, any rally is limited.
4- the resistance line at 1.666 has been challenged 4 times but never broken. :))
Dont worry I am sure you will be fine
I will catch up with you tomorrow
Regarding the report today, I think the dollar will rally regardless of the outcome. I.e dollar will rally in any news good or bad .
This will be the norm through out the next few weeks
This is my opinion
good luck in your positions
At the moment I only have two positions the first is short GBP/USD and the second is long AUD/USD . i hope the reistance line at 1.666 hold.
I am natural about the CAD and the Euro at the moment I am waiting for the FOMC announcement to make decision about the medium outlook of the US dollar.
Good look in your position.
The reason I entered this position is
1- I think the rally in GBP is tired and it is about to stall
2-RSI in the Daily and 4 hour chart is declining
3-risiatance at 1.666 have been challenged 4 times but never been broken.
4- economic fundamental out of the UK is not great.
5- MACD is about to cross in the daily chart
Are long CAD ? How many open position do you have at the moment?
why the GBP is advancing today even that the only news out today were the German PPI which produced an as expected result?
kind regard
YES I also prefer the Norwegian krona but I dont usually trade with them, because the spread is very wide and the interest is not high for me to hold it for long time.
I prefer to hold the AUD the swap is excellent
Good luck in your trading
Yes you are probably right, 1 hour for the New York close and we are still in the green, if it closes like this then expect farther gain in the AUD during the Asian Hours.
Qin As you live in Sweden what is your outlook in the Swedish Krona and the Norwegian Krona?